LONDON, Oct 13 — Britain’s economy rebounded in August despite ongoing supply chain woes, as people socialised more due to the lifting of coronavirus curbs, data showed today.
“This was offset by falls in health activity with fewer people visiting GPs and less testing and tracing.” Yet the ONS also revealed the economy shrank 0.1 per cent in July, revising down an initial estimate of 0.1 per cent growth.July was hit by downwardly revised data for the automobile and energy sectors, and improvements to how health output is measured.Britain’s economy had rebounded by 5.5 per cent in the second quarter, or three months to June.
The outlook also darkened after the government ended its furlough jobs support scheme and cut back Universal Credit welfare support. “The recovery is certainly facing more headwinds,” added EY economist Martin Beck.
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